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Ruling out any immediate succession plans at Tech Mahindra, its CEO & MD CP Gurnani on Monday told CNBC-TV18 that he will remain at the top till the end of the year and that there is no immediate announcement on the matter.

"The communication with the stock exchange has been very clear that I am on saddle till December 2023. And the successor would be a CEO-designate. But there is no immediate announcement. We will have to wait for a little while," he said in an interview to CNBC-TV18’s Shereen Bhan at Davos 2023 meet organised by the World Economic Forum.

Gurnani noted that while certain sectors like technology has experienced slowdown, others like travel and logistics are picking up and observed that technology will play a key role as a glue to bring all disparate solutions together.

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“Most of the industry has seen that the consumption of technology continues to be very high. Technology sector had to invest a lot to meet the demand of a consumer who was sitting at home and consuming technology. So whether it is a challenge on sustainability or climate control, or whether we are talking about recalibrating the supply chains, technology will play a key role as a glue to bring all disparate solutions together,” he said.

Gurnani mentioned that Tech Mahindra's strategy will continue to look at inorganic acquisitions, but his focus will be on organic growth. He said, “For the time being we are going to consolidate and create value with the acquisition that we have already done. My focus is organic growth. The leadership team will obviously be opportunistic, but there's nothing that I can say that we are looking at.”

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On margin recovery, Gurnani said, “It's a constant effort, we have now laid a roadmap where we are looking at putting in all the operational levers and we think every quarter you would see a definitive improvement in our margins.”

However, Gurnani also mentioned that the company does not want to give a guidance on margins.

Watch the video to know more.

(Edited by : Pradeep John)

First Published:Jan 16, 2023 6:08 PM IST